CocaCola Company (The) $KO Shares Sold by 17 Capital Partners LLC

17 Capital Partners LLC lowered its holdings in shares of CocaCola Company (The) (NYSE:KO) by 8.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,200 shares of the company’s stock after selling 1,960 shares during the period. 17 Capital Partners LLC’s holdings in CocaCola were worth $1,429,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. 1248 Management LLC acquired a new stake in shares of CocaCola during the first quarter worth about $26,000. Caitong International Asset Management Co. Ltd lifted its position in CocaCola by 5,142.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares during the period. Ridgewood Investments LLC grew its stake in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after purchasing an additional 285 shares during the last quarter. GFG Capital LLC purchased a new position in shares of CocaCola in the 2nd quarter valued at approximately $34,000. Finally, MMA Asset Management LLC purchased a new stake in shares of CocaCola during the second quarter worth approximately $34,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Stock Down 0.2%

Shares of NYSE KO opened at $71.09 on Thursday. The stock has a market capitalization of $305.79 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The firm has a 50-day moving average price of $68.20 and a 200 day moving average price of $69.47. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30.

CocaCola (NYSE:KO) last issued its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The company had revenue of $11.40 billion during the quarter. Equities research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 annualized dividend and a yield of 2.9%. CocaCola’s payout ratio is currently 67.55%.

Insider Activity at CocaCola

In other news, COO Henrique Braun sold 40,390 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total value of $2,864,862.70. Following the completion of the transaction, the chief operating officer owned 62,621 shares in the company, valued at $4,441,707.53. This trade represents a 39.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Manuel Arroyo sold 139,689 shares of CocaCola stock in a transaction on Friday, November 14th. The stock was sold at an average price of $70.80, for a total value of $9,889,981.20. Following the transaction, the executive vice president directly owned 58,067 shares of the company’s stock, valued at $4,111,143.60. This trade represents a 70.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 225,252 shares of company stock valued at $15,953,007 in the last 90 days. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KO. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Piper Sandler lifted their target price on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Wells Fargo & Company boosted their price target on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their target price on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $78.43.

About CocaCola

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.